Bath Versus Spain – Residential Property Review

Do you ever dream of swapping life in Bath for a sun-drenched existence on a beach somewhere? It’s a dream that certainly seems more appealing during the winter months, when sunshine and sangria feel like they are half a world away!

But could life really be better overseas? We’ve taken a look at life in Spain to imagine just how moving there might compare with life in Bath, with a particular look at the priciest item that most of us will ever shell out for: property.

Property Comparison: Bath Versus Spain

According to data at the time of writing, the current average value of a property in Bath is £472,393. That could get you a lot in other parts of the country, but that’s also enough for a beautifully presented three-bed semi-detached Victorian house in Lower Weston, or a two-bedroom, Grade I listed apartment in Queen Square, right in the heart of the city, based on current listings in Bath.

So, what could the same amount purchase in Spain?

According to xe.com, £472,393 at today’s exchange rate equates to €550,224. That’s a sizeable budget for a country that’s known for having cheaper property than we do here in the UK.

Based on properties currently on sale through Taylor Wimpey España, €550,224 is enough to buy a three-bedroom/three-bathroom detached villa in Mallorca, with optional private pool. Over on the mainland, it’s enough for a three-bedroom luxury apartment in a gated community with a shared pool in Benahavis, Marbella.

For those seeking greater value for money, €550,224 is enough to buy three brand new, two-bedroom apartments in Punta Prima, Torrevieja, on the Costa Blanca – and still have €40,000 in change!

Buying Property Overseas

Before buying a property anywhere, it’s important to seek professional advice. Here in the UK, companies such as Trussle are available to provide mortgage advice for free. Their extensive knowledge and data access can enable home buyers (and those who are remortgaging) to save hundreds of pounds each month.

Buying in Spain comes with many more unknown factors for the average property buyer. However, there’s nothing that can’t be overcome with the right financial and legal advice – you just need to do your homework and be certain that you are relying on the right people.

It’s also worth bearing in mind that investing €500,000 or more in real estate in Spain qualifies the buyer and their family for a ‘golden visa’ that paves the way to permanent residency and, ultimately, citizenship. With UK citizens losing their right to freedom of movement in EU countries as a result of leaving the bloc, this will likely be a compelling factor for some property buyers in the years ahead.

The Spanish Lifestyle

Of course, dreaming of life in Spain is about more than just purchasing property. There are many lifestyle factors to consider. Bath has around 200 days of sunshine per year; the Costa del Sol has over 300. Bath has the natural beauty of the River Avon; the Costa del Sol has over 150 km of coastline, including more than 125 beaches. Both places have superb local cuisines, packed with fresh, seasonal ingredients, and a plethora of entertainment options.

Ultimately, both locations can offer a fabulous lifestyle. If imagining moving overseas on rainy days in Bath helps to pass the time, well, there’s no harm in dreaming, is there?